Just ahead of Independence Day market closures, rumors and news abounded of mergers, from revived chatter of Walt Disney
Co (NYSE: DIS) for Verizon Communications
Inc. (NYSE: VZ) to new disruptions by activist
investors.
1. Bankrate
Red Ventures, a privately owned data company, entered a $1.4 billion deal to acquire Bankrate Inc (NYSE:
RATE). Shareholders of the content publisher will receive $14
per share.
The transaction will blend Bankrate’s personal finance services with Red Ventures’ insight into consumer-brand connections.
"We're excited to join forces with the Bankrate team, which has built an impressive and powerful platform of consumer-facing
financial services content and brands," Red Ventures CEO Ric Elias said in a press release. "Our capabilities are highly
complementary. We see significant potential to leverage our technology, strategic partnerships and digital expertise and build on
Bankrate's leading platforms to help more consumers find the financial services and products that meet their needs."
2. EQT Corporation
Traders circulated chatter that activist firm Jana Partners took a 5-percent stake in EQT Corporation (NYSE:
EQT) with the intention of tanking its pending, $6.7 billion
purchase of Rice Energy Inc (NYSE: RICE).
3. AK Steel
AK Steel Holding Corporation (NYSE: AKS)
announced an agreement to acquire Precision Partners Holding Company, a Canadian automotive company, for $360 million in cash.
"This acquisition will combine the best of both companies, bringing AK Steel's innovation in materials and manufacturing
together with Precision Partners' tooling and stamping knowledge and technology, to create a differentiated, innovative leader in
the steel industry,” AK Steel CEO Roger Newport said in a press release.
4. Opexa Therapeutics
Opexa Therapeutics Inc (NASDAQ: OPXA)
and Acer Therapeutics announced a merger that will result in 11.2-percent ownership by current Opexa shareholders
and 88.8-percent ownership by current Acer shareholders.
"Acer's lead asset, EDSIVO [for vascular Ehlers-Danlos Syndrome], could be on the market within the next two years,” Opexa CEO
Neil Warma said in a press release. “This factor, together with Acer's strategic vision, pipeline, the recently secured financing
and Acer's strong management team, provides Opexa shareholders with an opportunity for growth in the value of their shares."
5. MRV Communications
Both parties’ boards of directors approved ADVA Optical Networking (OTC: ADVOF)’s acquisition of MRV Communications, Inc. (NASDAQ: MRVC) for $10 per share.
"We see a very natural fit between ADVA Optical Networking and MRV as both companies have been long-standing suppliers to the
Carrier Ethernet and Optical Transport markets,” MRV CEO Mark Bonney said in a press release. “With so much in common technically
and culturally but with relatively little overlap among customers, the combined company will be in a stronger position to support
the evolving needs of its target markets.”
6. LCI Industries
Lippert Components, Inc., a subsidiary of automotive supplier LCI Industries (NYSE: LCII) acquired Italian manufacturer Metallarte S.r.l.
and its subsidiary, RV Doors, S.r.l. for about $16.8 million in cash.
“Metallarte is our third European acquisition in 13 months,” LCI President Scott Mereness said in a press release. “We believe
this transaction further accelerates the opportunities to expand LCI's product offerings for the European RV market.
7. Monster Digital
Monster Digital Inc (NASDAQ: MSDI) will
merge with Innovate Biopharma — a deal that will secure Innovate shareholders majority ownership.
"We believe that access to the public market this merger provides will be key in driving our lead program for celiac disease
into its final stage of clinical testing,” Innovate's CEO Christopher P. Prior said in a press release.
8. NCI Inc
Information technology company NCI Inc (NASDAQ: NCIT) reported its $283 million sale to H.I.G. Capital Management for $20 per share
in cash.
9. Allied World Assurance
The insurance firms of Allied World Assurance Company Hldgs Ltd (NYSE: AWH) and Fairfax Financial extended the offering period for purchase of outstanding
Allied World shares from June 30 to July 5.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.